Moscow Arbitration Court declared that Capital Tour’s bankruptcy application was well-grounded, the Russian Agency for Legal and Court Information (RAPSI) reports. The company will now be undergoing bankruptcy proceedings. In Moscow, Capital Tour Company used to run under the brand of Capital Tour.

This is actually the second legal entity belonging to the brand that has been declared as being on the verge of insolvency by the court. The company’s OOO Capital Tour had to undergo bankruptcy proceedings earlier on. Evgeny Shklyaev was appointed the trustee in bankruptcy for both cases, the Association of Russian Tour Operators reports.